New York Senate Bill S01745 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 1745 2025-2026 Regular Sessions  IN SENATE January 13, 2025 ___________ Introduced by Sen. STAVISKY -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the real property law, in relation to the treatment of cooperative housing entities The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The real property law is amended by adding a new section 2 220-a to read as follows: 3 § 220-a. Treatment of cooperative housing entities. 1. Effective on or 4 after the effective date of this section, the term "landlord" shall not 5 include or apply to any corporation, entity or organization, hereinafter 6 known as a "cooperative entity" that is or is operating for the purpose 7 of providing housing and/or residences for its shareholders by leasing 8 or subleasing to such shareholders, under proprietary leases or occupan- 9 cy agreements or subleases of such leases or occupancy agreements of 10 apartments or residences in the buildings or premises owned by such 11 cooperative entities. 12 2. The term "tenant" shall not include any shareholder, tenant or 13 subtenant of cooperative entities, unless such legislation or chapter 14 specifically provides that such term landlord or tenant or sub-tenant is 15 intended to apply to cooperative entities and shareholders, tenants or 16 sub-tenants of such cooperative entities. 17 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04030-01-5